GOCOF - Go Metals Demobilizes from Monster IOCG
Vancouver, British Columbia--(Newsfile Corp. - September 9, 2020) - Go Metals Corp. (CSE: GOCO) ("Go Metals" and/or the "Company") is pleased to announce that it has now de-mobilized from the Monster Project located in the Yukon 90km to the north of Dawson City. The Monster IOCG (Iron Oxide Copper Gold) project covers 63 square kilometers of the highly prospective Wernecke breccias in the Ogilvie Mountains and traditional territory of Tr?ondëk Hwëch?in First Nation.
The Reverse Circulation (RC) shallow drilling program was successful in identifying disseminated copper mineralization and verifying the gravity data as part of the phase one targeting program. Samples have been sent to MS analytical for analysis. The Company drilled 530m over 5 holes.
The Bloom target has found an association of copper sulphide mineralization close to the intended target. Hole 1 was drilled into the peak of a complete Bouger gravity anomaly but intersected a megaclast of mudstone until the end of the hole not reaching its intended target. Hole 2 was angled at 60 degrees to intercept the edge of the megaclast and reached specular hematite and chlorite altered Wernecke Breccia while intercepting local sulphide mineralization. Hole 3 targeted a coincident magnetic, IP and gravity anomaly. Due to difficult ground the hole had to be abandoned shy of its target. However, increasing copper sulphide mineralization was intercepted proximal to the target and will be a priority for phase 2.
Holes 4 and 5 were drilled on the Beast target. Hole 4 targeted a discrete gravity anomaly which was a post mineral intrusive. Although the anomaly was not mineralized the gravity data predicted the location of the dense rock with high accuracy. Hole 5 was targeted at a coincident magnetic high, resistivity low, and IP high at 135m. Equipment failure at 132.5 m stopped the drill.
Holes 1 and 2 were televiewed. Hole 1,2 and 5 were all left open with casing to facilitate a phase 2 diamond drill program.
Scott Sheldon, CEO of Go Metals comments "We knew time would be of the essence in this late program at the Monster. We were fortunate to have two weeks of good weather and a great crew in both Vision Quest Drilling and Capital Helicopters. The failure of a booster at the start of the program reduced our maximum depths as well as production, and equipment failure at the last hole caused it to stop shy of the target. Despite these setbacks, we intersected copper sulphide mineralization in two holes and confirmed the accuracy of our gravity data. We will add valuable information to our dataset Monster with the anticipated assays and televiewing results."
Qualified Persons
Adrian Smith, P.Geo., is the qualified person for the Company as defined in the National Instrument 43-101 and has reviewed the technical information presented within this news release.
About Go Metals:
Go Metals intends to find energy metal projects to help meet the demand for a battery powered future.
For further information, please contact:
Scott Sheldon, President
Telephone: 604.725.1857
Email: scott@gometals.ca
Forward-Looking Information:
This press release may include "forward-looking information" (as that term is defined by Canadian securities legislation), concerning the Company's business. Forward-looking information is based on certain key expectations and assumptions made by the Company's management, including future plans for the exploration and development of its mineral properties. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.
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